Economists warn of ripple effect related to fuel price hike

The price of petrol will increase by 54 cents a litre while diesel and illuminating paraffin will cost between 1 cent and 3 cents per litre more respectively on 1 May.

Picture: EWN

JOHANNESBURG – Motorists are bracing for more tough times at the fuel pumps with the price of petrol set to increase by 54 cents a litre at the stroke of midnight.

Diesel and illuminating paraffin will cost between 1 cent and 3 cents per litre more respectively.

This will be the fourth consecutive fuel price hike this year.

Just last month, the petrol price went up by more than R1,30 cents.

Economists have warned of a ripple effect on consumers, many of whom are already over-indebted.

The cost of filling up a car with a 50l tank since May 2018. Picture: EWN